In the news release, American Outdoor Brands Secures Patent
Settlement Agreement with The Allen Company, Inc., issued
26-Sep-2023 by American Outdoor
Brands, Inc. over PR Newswire, we are advised by the company that
in the first sentence of the second paragraph the words 'trademark
and' should be removed, and that the sentence should reference only
a patent infringement action, rather than a trademark and patent
infringement action, as originally issued inadvertently. The
complete, corrected release follows:
American Outdoor Brands Secures Patent Settlement Agreement with
The Allen Company, Inc.
COLUMBIA, Mo., Sept. 26,
2023 /PRNewswire/ -- American Outdoor
Brands, Inc. (NASDAQ Global Select: AOUT), ("AOB")
an industry leading provider of products and accessories for
outdoor enthusiasts, today announced that it has secured a
settlement, including a permanent injunction entered by
the United States District Court
for the District of Colorado on
September 25, 2023, with The Allen
Company, Inc. ("Allen"), related to Allen's infringement of AOB's
patent rights.
AOB's patent infringement action against Allen was
initiated in February 2023 and was
related to Allen's alleged repeated infringement of AOB's patent
rights incorporated in the LEAD SLED® shooting rests; Orange Peel®
shooting targets; and Ultimate Target Stand through Allen's sales
of the Shottrax and Shot-Rock shooting rests; EZ Aim® targets; and
the Precision Target Stand, respectively.
On September 25, 2023,
the United States District Court
for the District of Colorado
entered a permanent injunction against Allen enjoining Allen from
making, using, importing, selling, or offering for sale Shottrax
and Shot-Rock shooting rests SKU Nos. 21922 and 21925; EZ Aim
targets SKU Nos. 15253, 15229, 15224, 15222, 15228, 15225, 15252,
15226, and 15223; and the Precision Target Stand SKU No.
15296.
Brian Murphy, President and
CEO of American Outdoor Brands, said, "Innovation remains key to
our long-term growth, and we believe our proprietary designs and
features have helped us build a loyal base of consumers who
continue to trust our brands. We are pleased with this settlement
agreement and related permanent injunction, which protects our
intellectual property, and allows us to remain focused on building
authentic, lifestyle brands that help our consumers make the most
out of the moments that matter."
Statement Regarding Forward-Looking
Information
The statements contained in this release that are not
historical are forward-looking statements within the meaning of the
U.S. federal securities laws and we intend that such
forward-looking statements be subject to the safe harbor created
thereby. Statements that are not historical facts, including
statements about anticipated financial outcomes and expenditures as
well as other statements about our expectations, beliefs,
intentions, or strategies regarding the future, or other
characterizations of future events or circumstances, are
forward-looking statements. These statements relate to future
events and our future results and involve a number of risks and
uncertainties. Actual results, performance or achievement could
differ materially from those contained in these forward-looking
statements. The risks and uncertainties to which forward-looking
statements are subject include, without limitation, changes in
price and volume and the volatility of our common stock, unexpected
or otherwise unplanned or alternative requirements with respect to
the capital investments of the Company, changes in general
economic, business and political conditions, and other risks
detailed in the "Statement Regarding Forward-Looking Information,"
"Risk Factors" and other sections of the Company's Annual Report on
Form 10-K and other filings with the Securities and Exchange
Commission. Except as required by applicable law or regulation, we
disclaim any obligation and do not intend to publicly update or
review any of our forward-looking statements, whether as a result
of new information, future events or otherwise.
About American Outdoor Brands, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT)
is an industry leading provider of outdoor products and
accessories, including hunting, fishing, camping, outdoor cooking,
shooting, and personal security and defense products, for rugged
outdoor enthusiasts. The company produces innovative, top
quality products under its brands BOG®; BUBBA®; Caldwell®; Crimson
Trace®; Frankford Arsenal®; Grilla Grills®; Hooyman®; Imperial®;
LaserLyte®; Lockdown®; MEAT!; Old Timer®; Schrade®; Tipton®; Uncle
Henry®; ust®; and Wheeler®. For more information about all the
brands and products from American Outdoor Brands, Inc.,
visit www.aob.com.
Contact:
Liz Sharp, VP, Investor
Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.